Compliance Officer Corner - July 31, 2024: What is FATF and Why it Matters

In this edition of Compliance Officer Corner, Greg Dent breaks down the role of the Financial Action Task Force (FATF) in combating global money laundering and terrorism financing. We'll explore FATF's key responsibilities, how it monitors countries' compliance through its 40 recommendations, and the implications of being placed on the Grey List. Additionally, we'll review Canada's performance in adhering to FATF standards and what to expect in the upcoming mutual evaluation in 2025. This overview will help you understand FATF's impact on our industry and the importance of maintaining robust AML and CTF practices.

Also, check out their August 2024 "Know Your Compliance" Newsletter.

We would like to acknowledge the Indigenous Peoples in whose traditional territory we work and live: the Anishinabek; the Haudenosaunee; and the Lunaapeew. The three distinct First Nations communities within the Middlesex-London area are: Chippewas of the Thames First Nation; Oneida Nation of the Thames; and Munsee-Delaware Nation. We acknowledge the many longstanding treaty relationships between Indigenous Nations and Canada – including the London Township Purchase of 1796 between the Anishinabek and the Crown. This territory is now home to many First Nations, Metis, and Inuit peoples.
Each of us must honour these relationships, and we all have a responsibility to reconcile.

Website by

Compliance Officer Corner - July 31, 2024: What is FATF and Why it Matters

LONDON AND ST. THOMAS ASSOCIATION OF REALTORS®

LINKS